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Rail News: M&A

Pennsylvania rail authority seeks STB approval to buy NS line

The Pennsylvania Northeast Regional Railroad Authority (PNRRA) has filed a docket with the Surface Transportation Board seeking an exemption to purchase a 10.6-mile line from Norfolk Southern Railway.

The line, which is located in Monroe and Northampton counties, will continue to be operated by the Delaware-Lackawanna Railroad Co. Inc.

The line purchase is subject to NS retaining overhead trackage rights. PNRRA and the Class I expect to consummate the deal in three separate phases after Nov. 3.

Owned by Genesee Valley Transportation Co. Inc., the 87-mile Delaware-Lackawanna Railroad interchanges with NS in Portland, Pa., and with Canadian Pacific Railway in Scranton, Pa.

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More News from 10/16/2008